Programmable integrated circuits such as field programmable gate arrays offer a large amount of flexibility in that a single device may be configured to implement a wide array of different circuits. In operation, a power supply voltage that provides power to a programmable integrated circuit affects both the amount of electrical power consumed as well as the speed of operation of the programmable integrated circuit. Thus, in order to minimize power consumption, it is advantageous to determine the lowest power supply voltage that can support a desired speed at which the programmable integrated circuit can operate. Techniques for controlling the power supply voltage in this manner are thus needed.